At what rate of simple interest will ruppes 20,000 amount to ruppes 26,000 in 3yrs
Answers
Answered by
2
Amount = Rs. 26,000
Principal = Rs. 20,000
Simple Interest = 26,000 - 20,000 = Rs. 6,000
Time = 3 years
Rate = ?
Simple interest = Principal × Time × Rate
100
6000 = 20000 × 3 × Rate
100
6000 = 600 × Rate
Rate = 6000/600 = 10
Rate = 10%
Similar questions